Cash Management Change Alters Drawdown Testing

Jerry Ashworth
June 12, 2023 at 08:41:20 ET
An important update within the 2023 Compliance Supplement is provided in the Part 3, Compliance Requirements, cash management section (Part 3.C) and designed to clarify for auditors how they should review auditee cash drawdown records. The Office of Management and Budget (OMB) uniform guidance states that a nonfederal entity other than a state must be paid in advance provided that ... Read More